NEWS
New data shows the Australian housing market has seen its strongest growth since the financial crisis took hold.
The figures from Australian Property Monitors show house prices rose more than 3.3 per cent on average across the country in the June quarter. That is the strongest quarterly growth in prices since December 2007.
Property Monitors economist Matthew Bell says low interest rates and the first home owners grant have kept the affordable end of the market buoyant, but now the top end is showing signs of recovery.
"We've had that top end of the market, those more expensive properties, come back in a big way," he said.
"Particularly for Sydney, Melbourne and Brisbane; they grew by nearly double the amount of the more affordable areas. "So there's a really good pipeline of demand for properties across the board in most capital cities."
Source: nzherald.co.nz
Published: 30 July 2009
